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Big data can drive out poverty!

Big data gives governments tools to discover more effective and innovative ideas on how to decrease poverty across the world. Proper application of big data and technology advancement can improve the circumstance of people currently impoverished. Before, collecting reliable data from all corners of a country can pose as a hindrance in the complete elimination of poverty but now this problem is solved by the advances in mobile technology. Reportedly, more than 85% people in the world have access to mobile phones, even if some of them are the poorest people which lead to greater data collection on the poor and availability of big data acts as a catalyst to help the poor people prosper. Data collected from cell phone call data records and an individual's bill payment history banks and other financial institutions can effectively evaluate a person's ability to pay back loans and determine their risk attitude. This helps the institutions to give credit to the required people through micro financing. Read more at:

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